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1. fnrpusa.com › blog › types-obsolescence-real-estateTypes of Obsolescence in Commercial Real Estate Explained ...

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   Dec 18, 2021 · As it relates to a commercial real estate investment, there are three types of obsolescence: functional, economic, and physical. Obsolescence can be categorized as curable or incurable, meaning it can be fixed or it can’t. An example of curable functional obsolescence is outdated property finishes because they can be easily updated.

2. www.fortunebuilders.com › functional-obsolescence3 Types Of Functional Obsolescence In Real Estate

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   In general, there are three types of functional obsolescence. We explain each type below to help you understand how different forms of obsolescence can potentially impact your business. 1. Curable Obsolescence. As you may have guessed, curable obsolescence is the type of functional obsolescence that can be “cured.”.

3. corporatefinanceinstitute.com › resourcesEconomic Obsolescence (Real Estate) - Overview, Common Causes

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   Economic obsolescence refers to the loss of value of a real estate property due to factors that are external to the property. Common causes of economic obsolescence include a change in aircraft flight patterns, increased crime rates, construction of a busy highway, construction of a landfill nearby, etc. Economic obsolescence is incurable ...

4. www.wallstreetoasis.com › resources › skillsFunctional Obsolescence (Real Estate) - Wall Street Oasis

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   There are three categories of obsolescence under commercial real estate investment: functional, economical, and physical. Obsolescence is either curable or incurable, while super adequacy refers to an overly-renovated property. Old buildings are a prime example of functional obsolescence that is curable.

5. www.think.realestate › post › three-types-ofThree Types of Commercial Real Estate Obsolescence

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   Apr 15, 2024 · If there is curable functional obsolescence, it means that the property could be renovated or upgraded in a cost-efficient manner to bring the property up to modern standards. For example, it is possible to retrofit a property with high-speed wireless internet or badge scanners for increased security. If there is incurable functional ...

6. propertymetrics.com › blog › physical-economicThree Types of Commercial Real Estate Obsolescence

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   May 28, 2021 · Depending on the situation, there are two types of functional obsolescence, “curable” and “incurable.”. If there is curable functional obsolescence, it means that the property could be renovated or upgraded in a cost efficient manner to bring the property up to modern standards. For example, it is possible to retrofit a property with ...

7. People also ask

   Is real estate obsolescence curable or incurable?

   • For each of the types of real estate obsolescence (functional, economic, and physical), a further classification can be made as to whether it is curable or incurable. Curable obsolescence can be fixed, whereas incurable obsolescence cannot.

   Types of Obsolescence in Commercial Real Estate Explained: Economic

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   What does curable functional obsolescence mean?

   • If there is curable functional obsolescence, it means that the property could be renovated or upgraded in a cost efficient manner to bring the property up to modern standards. For example, it is possible to retrofit a property with high speed wireless internet or badge scanners for increased security.

   Three Types of Commercial Real Estate Obsolescence

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   What makes a property incurable?

   • Events out of the owner's control are the inevitable factors making a property incurable. An investor can look into the latest trends in the real estate market before buying. Incurable obsolescence is a form of obsolescence that's not practical to cure financially. It occurs when it's too costly to mend the issue.

   Functional Obsolescence - Overview, Types, Impact | Wall Street Oasis

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   What is a 'curable' property?

   • If addressed, some real estate features referred to as "curable" can help slow functional obsolescence. When a property is out of date, neither the owner nor the neighborhood can enjoy it. A "curable" property might need money spent on demolition and junk removal, which could result in more losses for the owner or investor. Examples

   Functional Obsolescence - Overview, Types, Impact | Wall Street Oasis

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8. sebfrey.com › understanding-functionalUnderstanding Functional Obsolescence in Real Estate: A ...

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   Examples include properties located near noisy highways or in areas with high unemployment rates. Incurable obsolescence negatively impacts property value and may require adjustments in valuation approaches. 2. Curable Obsolescence. Curable functional obsolescence refers to deficiencies in a property that can be fixed or improved by the ...